In trader's defense, he keeps pushing it because people keep asking him for it. Somehow, he is perceived at the TA guru for this board. I'm not bashing trader at all, as I happen to think his posts are reasoned and well articulated, and generally I agree with him. He is simply responding to a handful of posters that are too lazy to think for themselves.
Doesn't seem like either. Volume at around 3:50pm was around 1.8M, and it printed 7.2M, so it seems like an arranged trade on the close, as the price barely moved. Could be a short re-entering a position selling to a window-dresser?
In the past, an event like yesterday would allow the shorts to drive the pps down 20-25%...it's holding up pretty well so far today. Another day or two over $30, and I think the march higher resumes.
eric - there is no other way to interpret the news release. They said they completed 21,000 tests in Q2. End of story.
KC stated what I suggested a few weeks ago - that years from now, EXAS will be synonymous with the early detection of cancer - another point he kept driving home today. I'm hopeful that he was setting the bar low with respect to the 5 year timeline for all of the pipeline tests, it would nice to get one of them to market sooner than that. It'll be interesting hear the game plan for the pipeline later this year.
btw, interesting timing on the barron's blurb today, which btw despite the headline, doesn't even make the case that Nike should buy SKX...the note came out pretty much as the stock was ready to break through $110.
I wouldn't get too excited about today's consumer spending number...a large portion of that was rising gas prices.
LOL about going down 2 days in a row...I didn't realize stocks could only go in one direction. The stock has run from $70 to $110 with no significant pullbacks. At some point, you'll see a retracement to the $100-$105 level.
Stock was down marginally in the 2 week period. The next reporting period will capture the 5 point move we've made (assuming it isnt given back after tomorrow, which I don't expect)
Shorts have been exiting the stock over the last 30 days...SI has gone from 18% to 10%....SKX has gone up in a straight line from 70s to 110...a pullback to 95-100 sounds about right, especially if broader market continues to sell-off.
Interesting thread. I think I've been long for longer than most. Bought my first shares in 2004, but he majority of my shares were purchased between $3 and $5 after KC came aboard, and have added along the way between $7 and $12.
The 2004-2009 era was a bleak time for the company, and while conceptually EXAS's solution to CRC screening always made sense to me, frankly I would have thrown in the towel were it not for the postings on this board by Pro, and to a lesser degree, Kirky and Chas. While I nibbled a little bit when the pps was under $1.00, I will always regret not backing up the truck. Could have brought retirement a few years closer if I did.
His final comment on web portion of the conference was the most poignant point of the day:
40% of all CG tests are for those that have never been screened. The vast number of tests done to date are on the Medicare aged population that have been in the screening pool for almost TWO DECADES!!! In other words, its pretty safe to say that if CG didn't come along, these people would have NEVER been screened.
Just think about that for a minute.
Like many on this board pontificated years ago, EXAS is really stepping to the forefront on the cancer diagnostics stage. It is not hard to picture a world 5 years from now, where EXAS has the leading screening methodology for 3 of the top 4 cancer killers in the U.S., and that the company name is as synonymous with diagnostics as Coca-Cola is with soft drinks or Tesla is with electric cars.
Agreed sailing, although my threshold is a little higher. I've been maintaining we'd stay in this range until news on either pipeline or large payor...the ddw esophageal cancer news offered a glimpse into pipeline...it wasnt blockbuster news, but it might just be enough, given the anxiety the shorts must be feeling right now that the Oct gap couldn't close. $30 will come awfully quicK if it breaks out.
I wouldn't want to sell calls that capture Q2 earnings. KC set the bar low at 18K tests, and the pps didn't really get crushed for it (perhaps the market saw right through KC's sandbagging). With Anthem on board, there's a good chance of a huge beat. The shorts can only hold this down for so long.